Press Esc to close
Sunday 03 May 2015
News updated at 8:09 PM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day

No case for S and P ratings downgrade: Arvind Mayaram

NEW DELHI, May 20, 2013 , (Reuters) -
India's Economic Affairs Secretary Arvind Mayaram attends an interview with Reuters at a hotel during his visit for the G20 meeting in Mexico City November 4, 2012.  Credit: Reuters/

There is no case for downgrading India's sovereign credit rating, Economic Affairs Secretary Arvind Mayaram told the news channel ET Now on Monday, after Standard & Poor's reiterated its negative outlook on the country's credit rating.

The rating agency last week warned that India needed to follow through on implementing a slew of pending economic reforms, a warning that dealt a blow to a government that had recently pitched for an upgrade.

The agency had also said that high fiscal and current account deficits remained a drag on India's rating, saying there was a higher than one-in-three chance of it downgrading the country to "junk" investment status.

Mayaram said the concerns over the pace of implementing economic reforms were "overstated", adding India's current account deficit and economic growth are likely to improve over the previous fiscal year.


Go to Top

Photo Gallery
ANAHATA PAINTING EXHIBITION AT THE HAWELI

ANAHATA PAINTING EXHIBITION AT THE HAWELI

A staff member of the Madame Tussauds Tokyo wax museum prepares decorations

A staff member of the Madame Tussauds Tokyo wax museum prepares decorations

Mayweather, Jr. of the U.S. fights Pacquiao of the Philippines in the third round

Mayweather, Jr. of the U.S. fights Pacquiao of the Philippines in the third round

Memorial site for the former Nazi concentration camp in Dachau, southern Germany,

Memorial site for the former Nazi concentration camp in Dachau, southern Germany,

Collapsed and damaged houses are pictured from a helicopter after last week's earthquake

Collapsed and damaged houses are pictured from a helicopter after last week's earthquake

A Nepalese army personnel unloads aid from a helicopter after last week's earthquake

A Nepalese army personnel unloads aid from a helicopter after last week's earthquake

Israel's Veinberg Filanovsky performs in the individual final programme

Israel's Veinberg Filanovsky performs in the individual final programme

People take a selfie while covered in colour powder during the first color run called 'Alwan LB'

People take a selfie while covered in colour powder during the first color run called 'Alwan LB'

A Palestinian farmer rides his horse past an Israeli army tank during a military exercise

A Palestinian farmer rides his horse past an Israeli army tank during a military exercise

Child Laborers day

Child Laborers day

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523